Handle payment discounts more flexibly

Businesses in some countries very commonly use payment discounts to encourage their customers to send payments quickly. Handling discounts for early payment conditions needs flexibility for dealing with exceptions and granting discounts above the original agreement, and greater control and oversight when applying payments to entries.

The Essential Module in Continia Finance includes the Extended Payment Discount Handling feature for dealing with these issues more flexibly and smoothly than standard Business Central.

Navigate to Continia Finance Setup page, and in the Extended Application FastTab, enable Extended Payment Discount Handling.

Clearly see payment discount details in journals

With Extended Payment Discount Handling enabled, you gain a better overview of the relevant payment discounts for entry lines, such as in the cash receipt journal.

In the entry lines, you see four extra columns:

• Payment Discount Possible, which displays the amount of discount that can be applied to the entry when considering the payment discount date
• Payment Discount to Apply, which can be manually adjusted to a different discount amount
• Application Payment Discount Amount
• Payment Discount %, can be manually adjusted to a different discount rate

For applied entries, the fields in the payment discount columns display in bold green text, for an easier overview when you work with multiple lines.

Adjust payment discount amounts and rates

The Extended Payment Discount Handling feature also gives you powerful tools to quickly adjust payment discount amounts when applying entries, such as in the cash receipt journals.

In the General section, you see three extra fields:

• Ignore Payment Discount Date, which allows you to quickly apply the set discount to all entry lines regardless of whether posting date is after the payment discount date
• Build Payment Differences, which allows you to apply the discount regardless of the payment discount date, and then creates an Open Amount for the difference between the applied amount and the entry amount with the original discount
• Use Payment Discount %, which allows you to apply a different payment discount than the discount originally set for all the entries

Handle partial payments with discount amounts

With Extended Payment Discount Handling, you can also handle partial payments that include a partial payment discount. This is currently not an available functionality with standard Business Central.

Simply adjust the amounts in the columns:

• Either Payment Discount to Apply or Payment Discount %
• Payment Amount

The Open Amount column will display the remaining amount for the entry.